IDEX Corp. Upgraded to “Buy” at Brean Capital (IEX)
IDEX Corp. (NYSE:IEX) was upgraded by equities research analysts at Brean Capital from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, TheFlyOnTheWall.com reports. The firm currently has a $79.00 price objective on the stock. Brean Capital’s price target would suggest a potential upside of 9.71% from the stock’s previous close.
IDEX Corp. (NYSE:IEX) traded down 0.70% on Friday, hitting $72.01. 662,642 shares of the company’s stock traded hands. IDEX Corp. has a 1-year low of $48.02 and a 1-year high of $79.27. The stock’s 50-day moving average is $72.43 and its 200-day moving average is $66.7. The company has a market cap of $5.841 billion and a P/E ratio of 87.48.
IDEX Corp. (NYSE:IEX) last announced its earnings results on Thursday, January 30th. The company reported $0.82 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.80 by $0.02. The company had revenue of $521.00 million for the quarter, compared to the consensus estimate of $520.23 million. During the same quarter in the prior year, the company posted $0.69 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. Analysts expect that IDEX Corp. will post $3.38 EPS for the current fiscal year.
In other IDEX Corp. news, Director Michael Tokarz sold 2,586 shares of IDEX Corp. stock on the open market in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $73.72, for a total transaction of $190,639.92. Following the sale, the director now directly owns 333,031 shares in the company, valued at approximately $24,551,045. The transaction was disclosed in a filing with the SEC, which is available at this link.
Separately, analysts at Cowen and Company initiated coverage on shares of IDEX Corp. in a research note to investors on Tuesday, November 19th. They set a “market perform” rating and a $68.00 price target on the stock. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $65.33.
IDEX Corporation (NYSE:IEX) is an applied solutions business that sells an array of pumps, flow meters and other fluidics systems and components and engineered products to customers in a variety of markets worldwide.
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